India Rubber: Down on ICEX tailing TOCOM contracts; up in spot mkts

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: Down on ICEX tailing TOCOM contracts; up in spot mkts

Monday, Jan 20

 

By Rahul Dhuri

 

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MUMBAI – Rubber contracts on the Indian Exchange were down tailing benchmark contracts on Tokyo Exchange, said. The most-active February contract of rubber on the domestic bourse ended at 14,105 rupees per 100 kg, down 0.5% from the previous close.

 

on TOCOM were 2% lower today due to profit booking by investors and weakness in contracts on Shanghai Futures Exchange, analysts said.

 

The most-active June contract of rubber on the Japanese bourse ended down 0.4% at 200.9 yen (about 129.65 rupees) per kg, after hitting a 10-month high of 208.7 yen on Friday. 

 

Price of the RSS-3 variety in Thailand fell by $2.13 to $163.70 per 100 kg, Rubber Board data showed. In Malaysia, the price of the -20 variety was down $1.99 at $150.50 per 100 kg.

 

However, a rise in prices of natural rubber in spot markets of Kerala prevented a sharp fall on the domestic bourse. Prices of natural rubber rose in Kerala’s spot markets today due to a supply crunch amid rising demand from domestic stockists, said Mathew Thomas, the owner of Kallarakkal Agencies in Kerala. 

 

In Kochi and Kottayam, the widely traded RSS-4 variety was sold at 137-138 rupees per kg, up 1 rupee from the previous close, traders said. However, data from Rubber Board, showed that prices in Kottayam and Kochi were at 138.00 rupees per kg, unchanged at both the places.  

 

activity has been delayed despite it being the peak season, said Raju Varghese, the owner of Polachirayil Traders in Kottayam.

 

The following table shows today’s closing prices of rubber, in rupees per kg, as detailed by the Rubber Board, and the change in prices, in rupees, compared with the previous close:

 

 

KOTTAYAM

KOCHI

GRADE

PRICE

CHANGE

PRICE

CHANGE

RSS-4

138.00

Unch

138.00

Unch

RSS-5

134.00

Unch

134.00

Unch

ISNR-20

120.00

1.00

NA

     NA

Latex

86.65

0.55

NA

     NA

 

End

 

US$1 = 71.10 rupees 

 

Edited by Maheswaran Parameswaran

 

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